这时印第安老人把身子探到桌子的那边，问：“你有什么可以作抵押的吗？”

The old Indian leaned across the desk, "What do you get for collateral?"

youdao

作者认为这可以作为第一手证据证明，市场某个方面出现的问题—这次是次级抵押贷款—会蔓延到另一个与之完全无关的领域。

He says this provided the first piece of evidence that problems in one corner of the markets-in this case, subprime mortgages-can spill over into a completely unrelated area.

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银行和其他债权方将会避免这样。 二，欧洲央行（ECB）已经说明了充足的违约债务不能用于中央银行的抵押物，但是自愿性的新贷款可以作为央行的抵押物。

Second, the ECB has indicated that restructured debt that is the result of a default will not be eligible as collateral at the central bank while new loans that are voluntarily made will be.

youdao

If you put a property up as collateral, then the lender knows that they can get the money back from you.

如果你以资产作抵押,贷方就知道债务偿还有了保障

耶鲁公开课 - 金融市场课程节选